$AMZN TOP 20
Added 2023-01-15 16:28:08 +0000 UTCI uploaded an AMZN chart on Friday but I wanted to clean it up a bit and add in the bull case because a bounce at the Covid low can be seen as a strong support line. The red (3) (4) and (5) are still on the chart and again I'm still leaving towards the bear case but both options are clear to see now.
This week will be telling so I expect to upload another chart during the week as more information comes in.
Comments
i see, well we shall see what happens this week of course.
Sid
2023-01-15 17:50:50 +0000 UTCNo, the yellow support line was showing when I believe the bull case is in. The count is only invalid if it goes below the starting point of Wave C. For now, all this is looking like is a pull back for Wave 2 of C. But Sid, you trade as you see fit. I am showing my interpretation of these charts, we appear to constantly have different views, that is perfectly fine so please do not let me hold you back with doing what you are comfortable with.
Gareth Neary
2023-01-15 16:53:08 +0000 UTCi see, but $SQQQ broke way below your yellow support line, so its not now mimic of what wave A did. the pattern is now thrown off since it broke down. it also closed below the 50dma and 200dma, so wouldn't this count for wave C be invalidated then ? it broke below your Amber Wave A....
Sid
2023-01-15 16:48:27 +0000 UTCWave C on the $SQQQ remains the same....the blue pattern is a mimic of the Wave A, it is not a projection of what the chart will do, it is simply showing what Wave A did.
Gareth Neary
2023-01-15 16:40:10 +0000 UTCthe bull case's for $AMZN $AAPL $GOOG etc does not line up with your $SQQQ chart, even though $MSFT is still in that downtrend, do you have an update for $SQQQ and $SPXU then if some of these do not trade together ?
Sid
2023-01-15 16:37:19 +0000 UTC
